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Tuesday, May 22, 2018 1:31:41 PM EDT

Industrial Production Updated 16-May-18 09:48AM ET

Industrial production increased 0.7% in April ( consensus +0.6%) on the heels of an upwardly revised 0.7% increase (from 0.5%) in March, marking its third straight monthly increase.

The capacity utilization rate increased to 78.0% ( consensus 78.4%) from a downwardly revised 77.6% (from 78.0%) in March.

Manufacturing output, driven by gains for durables and nondurables, rose 0.5% after being unchanged in March

Mining output, bolstered by further gains in the oil and gas sector, jumped 1.1% following a 0.8% increase in March

Utilities output, supported by strong heating demand, increased 1.9% on the heels of a 6.1% increase in March

On a year-over-year basis, industrial production increased 3.5%. The capacity utilization rate in April was 1.8 percentage points below its long-run average.

Industrial production was revised down for December, January, and February

The key takeaway from the report is that the April increase was fueled by increased output across all three major industry groups.
Industrial Production
Total Index0.7%0.7%0.4%-0.4%0.4%
Capacity Utilization
Total Industry78.0%77.6%77.1%76.9%77.3%